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Teacher Retirement System to spend at least $326K a month in rent

Our legislators spent the better part of the last session pandering to teachers, both retired and current. Now we see that TRS is spending an extravagant amount of money to rent three floors in a brand new tower being constructed in downtown Austin.

AUSTIN (KXAN) — A public records request to the Teacher Retirement System of Texas has revealed that the agency will spend at least $326,000 a month in rent for office space in the Indeed Tower.

TRS signed a 10-year lease for three floors of office space at the Indeed Tower, which is scheduled to be completed in 2021, on Sixth Street.

TRS Executive Director Brian Guthrie told KXAN in a prepared statement that because the agency committed early to the Indeed Tower, “we were able to stabilize the rent and negotiate favorable per-construction rates for the 100,000 square feet.”